First Honeymoon shipment bound for Europe

Thursday, 4 July 2024

The project is still in the commissioning and ramp-up phase - it produced its first post-restart drum of uranium in April - and the ramp-up is running ahead of schedule, the company said. By the end of June, it had produced 57,364 pounds U3O8 (22 tU). With one NIMCIX ion exchange column performing to expectations, and construction of two further columns progressing on track, the company said it expects production to total at least 850,000 pounds U3O8 by the end of June 2025.

"The start-up phase at Honeymoon is proceeding comfortably to plan, with all the key metrics running in line with, or exceeding, the forecasts contained in the Feasibility Study schedule," Boss Managing Director Duncan Craib said. "Construction of the second and third columns is also advancing well, ensuring we are on track to continue increasing our production rates. Total production in FY26 is set to meet or exceed our feasibility study forecasts at 1.63 Mlb. The addition of columns 4, 5 and 6 are forecast to further increase the production rate to nameplate capacity of 2.45 Mlb/annum by year three."

Construction of columns 2 and 3 is nearing completion (Image: Boss Energy)

Honeymoon first began operations in 2011 but was put on care-and-maintenance in 2013 by its then-owner Uranium One. It was acquired by Boss in 2015. Boss's board approved a final investment decision to restart operations in June 2022. Mining activities restarted last year.

The company said it will now make its first delivery to European nuclear utilities under its existing sales contracts, with revenue to be received in the current quarter.